Tax Re-evaluation, Bridge and other news

Fall is officially upon us and the weather here in Duck has been phenomenal. This is by far the best time of year to visit the Outer Banks and I hope you’ll be able to take advantage of it as well.

In fact, you may already be planning a visit over Columbus Day Weekend. If so, you’ll notice the annual Parade of Homes happening. This is a big event for us and is a great opportunity to see the latest trends in building. If you can’t make it, be sure to take a look at the full tour online…

You may also remember a brief note in a previous email about the 2012 Tax Re-evaluation that is taking place now. The latest assessments for Dare County will be available to homeowners in January 2013. Keep in mind, tax assessment is not designed to determine market value for the property, rather for the purpose of assessing taxes equally among property owners. If you’re interested in more information you can visit Dare County’s website on the topic here.

Now for the latest Mid-Currituck Bridge update…the Joint Legislative Transportation Oversight Committee has scheduled a meeting to give an update on this project for October 8th in Raleigh. If you have an interest in this be sure to contact Representative Owens with your thoughts. You’ll also notice on the Turnpike Authority website regarding this project that the completion date has been pushed once again to January 2018.

Lastly, sales continue to be very strong here. There’s overall a 19% increase in the number of sales so far this year over last year. However, last month we saw a huge spike in foreclosure filings for Dare County. No one is really sure what caused the increase. The point is we aren’t ready for any appreciation just yet. It remains a great time to buy and for those selling a wonderful opportunity to take advantage of the increased buyer activity. Let me know if you need any data on the market.